This article was first published on Loopring Protocol - Medium
The Loopring and Ren teams are extremely excited to announce that the renBTC asset is listed on Loopring.io, Ethereum’s zkRollup Exchange, trading against USDT. Further, this renBTC-USDT pair will be launching with a liquidity mining incentive campaign.
Traders adding liquidity to the renBTC-USDT orderbook (placing resting limit orders) will automatically be eligible to receive their share of $2k in renBTC rewards. Rewards are payable according to spread tightness, order depth, and order balance. Traders will accrue these rewards every hour for 30 days, and can see a dashboard expressing all their earnings in real time. More information on Loopring Exchange liquidity mining can be found here. This pair represents the first liquidity mining campaign outside the Loopring team’s initial effort incentivizing LRC-USDT and ETH-USDT liquidity.
Ethereum and DeFi continue to grow in completely novel and somewhat unexpected ways, building out new financial instruments, market structures, and incentive schemes. However, orderbook exchanges represent one stalwart of the traditional finance system, and one which Ethereum’s parallel financial system has yet to completely capture for two main reasons: 1) inability to perform at same level in terms of throughput and cost, 2) inability to seamlessly integrate non-Ethereum assets.
The former is effectively solved by layer 2 scalability, Loopring’s zkRollup Exchange being a leading solution for users to trade at high TPS, low cost (no gas), while maintaining 100% Ethereum-self custodial security. The latter is effectively solved by cross-chain capability, RenVM being a leading solution for porting any asset to Ethereum in a trustless and composable manner.
So these are solved problems, with in-production solutions. Combined, these technologies endow Ethereum exchanges with the means to outcompete legacy custodial exchanges, while fully upholding the security guarantees we are all here for. As recently as last year, it would ...
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Loopring Protocol - Medium